In this second conversation on the progress of the recession with James Sène, president of 11Onze, we discuss the media’s responsibility in reporting the economic situation, how the new Homeland Security Act affects us, and what new 11Onze products we will see coming soon.

One of the main keys to the structural basis of a consolidated democracy is for citizens to be well-informed in order to be able to make the best possible decisions. A concept that is especially relevant in the current economic context. That is why at 11Onze we attach so much importance to the financial education of our community, and to the fight against economic disinformation with the 11Onze Check section.

The responsibility of journalists to inform the public correctly cannot be taken lightly. As James Sène says, “journalists have rights, but you also have duties, the first of which is the truth“. He gives the example of a supposed ‘expert’ who recently gave economic information on social networks in relation to inflation, saying that workers have to accept that their wages cannot be raised, because if they accept that their wages cannot be raised we are doing well, and Sène continues, “I thought, how can it be that such a barbaric thing is said and nobody says anything”.

The state’s power over our money

The controversial reform of the national security law generated doubts and legal uncertainty as to the extent to which the Spanish government can seize money and assets of citizens and companies in the event of an economic crisis. The ambiguity of the law raises concerns about how it may affect our fundamental rights.

In situations of economic crisis, states protect themselves by using all the resources at their disposal, as Sène explains, “states ask for money from private banks, and if they cannot pay they go into chaos”, therefore, banks have to be sure that the states will be able to return the money, if necessary, “by force, by imposition, through taxes“, or a law that allows the money to be seized directly from the people.

In this context, at 11Onze we want our values to be reflected in socially responsible solutions that empower our community, and we offer the possibility of having accounts with IBANS from other countries, as well as the safest alternatives to diversify and protect our savings with the purchase of gold.

But what’s new at 11Onze? In the financial sphere, we are taking the big leap and launching 11Onze Business for the self-employed and SMEs, “with features that will revolutionise the market, because we are really putting total control of their money in the hands of individuals and companies once again, and at very accessible prices”, says Sène. To discover the rest of the new features that you will soon be able to see on 11Onze, listen to the podcast above.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.